Question:
If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of
If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of
Updated On: Oct 29, 2024
- 0.15
- 0.12
- 0.06
- Prevailing in State Bank of India
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The Correct Option is B
Solution and Explanation
According to the Companies Act, if the refund is delayed beyond 8 days, the company is liable to pay an interest of 12% per annum.
Hence, the correct answer is Option 2.
Hence, the correct answer is Option 2.
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